On October 11, 2007, John and Kaitlyn Crowley spoke with Kim Carrigan of Fox 25 Morning News about Jenny's Law. Click on the link below to watch the video:
Life Insurance Warning
You can also read Kim Carrigan's blog about Jenny's Law, and add comments:
Insure Me This Won't Happen Again
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My husband and I were married in 1991. I was widowed in 2003 and left with 2 kids 9 & 6. My husband had an existing life insurance policy through his job that had not been updated since about 1985, even though he requested ALL of the paperwork he would need to update his policies to reflect this life change. After he died, we were told that he would have needed to contact the life insurance company directly. We never received the insurance money. He had also purchased a small ($30,000) policy a year prior to his death. When we tried to collect, we were told that the company does not pay out on a policy that was purchased so recently, instead they will just return the premiums - again, no pay out. That was at least $65,000 that we never saw, a sum that could have taken a huge burden off of the upcoming college costs. I know where you're coming from - I live that life too. And I've wondered: Why aren't employers responsible for making sure that there is a yearly renewal of life policies as they do with healthcare policies. Why would they accept the life changes information and not inform us that we were missing an update that has had a HUGE impact on our family. Why would the employer not be responsible for keeping forms to change your preferences available to employees in the office? Why should ANYONE be allowed to collect on a life insurance policy, including named beneficiaries, when there are minor children involved? If we can assign a certain percent of a parents wage to child support, why couldn't we do the same thing with assigning life insurance to the children? My father paid on an insurance policy for years. When he died, it took months for the company to pay out - they sent investigator after investigator to various family members trying to collect information that would support their case on NOT paying out. We're talking about a $54,000 policy here - not a million dollars. Never once did they inquire about his health when the premiums were coming in - why question it after. It is the company's obligation to decide if they're going to insure you or not. I think it is HORRIBLE that these companies are allowed to get away with this kind of thing, adding insult to an already devastating situation. Keep doing what you're doing! It's time for a change!
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